Mortgage Market Update

Cheyene DeWeese

Wednesday, September 2, 2026

Picking the right loan program for you

Hi there — I want to make sure you're thinking about more than just the rate when you're considering a mortgage. This week, let's talk about loan types and why the choice matters.

National Mortgage Rates · August 27, 2026

30-Year Fixed

6.66%

FHA 30-Year

6.55%

VA 30-Year

6.38%

Source: Freddie Mac PMMS & Optimal Blue via FRED

Rates shown are national averages and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.

Loan Programs

Why your loan type matters more than you think

When you're shopping for a mortgage, it's easy to focus only on the interest rate. But the kind of loan you choose — fixed-rate, adjustable-rate, FHA, conventional, or VA — shapes your entire borrowing experience. Each program has different rules about down payments, credit requirements, and how your rate behaves over time. The right fit for you depends on your timeline, how long you plan to stay in the home, and what kind of payment certainty you need. I'd like to walk you through which programs might make sense for your situation and help you see past the rate alone.

Let's talk about which loan program is the best match for you and your goals.

Tip of the Week

Your mortgage interest may be tax-deductible if you itemize. Check with your tax professional to see if it benefits you.

Tips for Homeowners

Understanding Mortgage Points

1.	One mortgage point equals 1% of your loan amount. Paying points ("buying down the rate") reduces your interest rate — typically 0.25% per point, though this varies by lender and market.

2.	Calculate your break-even: divide the cost of the points by your monthly savings. If it takes 4 years to break even and you plan to stay 10 years, buying points makes sense.

3.	Points paid on a home purchase are generally tax-deductible in the year paid (if you itemize). Points on a refinance must be deducted over the life of the loan.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Cheyene DeWeese team any time and we'll walk you through your options.

Your Mortgage Advisor

Cheyene DeWeese

cheyene.deweese@streethomelending.com

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